Adoption of Electronic Banking in Ghana Banking System: A Case Study of Guaranty Trust Bank (Ghana) Limited

Research Paper (postgraduate) from the year 2014 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, ( Atlantic International University ) (School of Business and Economics), course: Ph.D. Economics, language: English, abstract: Electronic banking (e-banking) has brought about a revolution in the functioning of banks as it offers major opportunities to banks and their customers. This has made the transition to electronic banking a necessity for banks in order to be viable. Despite its benefits, developing countries still lag behind in the adoption of electronic banking. This study therefore seeks to examine the adoption of e-banking in the Ghanaian banking industry with Guaranty Trust Bank Ghana Limited (GTBank) as the case study to identify the benefits, challenges and critical success factors for the adoption of e-banking in the Ghanaian banking industry. The research made use of questionnaires and interviews to collect data from staff and customers of GTBank. The results of the study indicated that e-banking adoption was a business strategy taken by the bank in response to customer needs and the changing marketing trends in the banking industry. The benefits, challenges and critical success factors of e-banking are also identified and discussed. From the study it is obvious that tremendous benefitssuch as revenue generation, improvement in productivity and efficiency in service delivery and cost savings were derived from e-banking. The lack of a solid technology infrastructure was identified as a major challenge of e-banking adoption in the country. The study however revealed that there is a promising future for e-banking in Ghana.Some recommendations to enhance the adoption of e banking in country are made based on this study.

David Ackah a Ghanaian Professional Holds Ph.D. in Economic Development in Africa, MSc. Economics from the United State of America, Bachelor Degree in Accounting, Post Graduate Diploma in Logistics and Supply Chain Management, Post Graduate Diploma in Project Management, & Post Graduate Diploma in Customer Relationship Management. He also holds a Diploma in Marketing from Institute of Commercial Management (ICM UK), Standard Diploma in Sales Management from Managing & Marketing Sales Association (MAMSA UK) and a certificate in Marketing & Salesmanship from the Institute of Export and Shipping Management. David Ackah holds "Fellow Chartered Membership" (Highest Grade Membership) from the following Institutions, Institute of Project Management Professionals Ghana, Chartered Institute of Supply Chain Management, Ghana, Chartered Institute of Project Management, Nigeria, Institute of Certified Economists Ghana, & Chartered Institute of Customer Relationship Management, Nigeria. David Ackah is the President of Institute of Project Management Professionals and a Senior Lecturer and Internal Auditor of Golden Sunbeam University College of Science & Technology (both School of Business and Administration) with an oversight of administrative and accounting procedures as well as planning the long-term auditing strategy for the onward development of the University. He provides operational support, monitoring and periodic review of administrative auditing to ensure the achievement of the vision and goals of the University. David Ackah is an author of five Internationally Published Books in the areas of Business, and about forty-two Articles Published in the International domain. He has a total University teaching experience of 5 years, and a total professional experience of 8 years in Manufacturing, Pharma marketing, Sales/Distribution, administration, Economics & finance.